White House’s Hassett Says Fed Should Weigh Rate Cut, Powell Decision Months Away

White House senior economic adviser Kevin Hassett said it would be “appropriate” for the Federal Reserve to weigh an interest-rate cut, citing the current economic outlook. Speaking in a CNBC interview, Hassett added that Chair Jerome Powell’s recent policy presentation to administration officials was “sound.” Hassett also indicated that President Donald Trump is unlikely to decide on whether to reappoint Powell or choose an alternative for several months, saying the selection process for the next Federal Reserve chair will “run out for a few months” before a decision is made.